Stan Kroenke’s Real Estate Portfolio

When people think of Stan Kroenke, they typically picture the owner of the Los Angeles Rams or the Denver Nuggets. The real estate story is less visible but far larger in scale. According to the Land Report, Kroenke ranks No. 1 on the 2026 Land Report 100 with approximately 2.7 million acres of ranchland across the United States and Canada, a footprint that dwarfs most comparable portfolios by a wide margin. For anyone studying how billionaires build and hold real estate wealth, Kroenke’s approach offers a detailed case study in long-horizon, asset-heavy accumulation. Platforms like Ark7 bring a different form of that same ownership philosophy within reach of everyday investors, letting people buy shares in curated rental homes at accessible price points.

The scale is genuinely hard to frame. Kroenke’s reported landholdings, as noted by Business Insider, make him the largest private landowner in the US. His fortune, per the same reporting, is largely tied to sports franchises and commercial and ranching real estate. This article works through the ranchland holdings, the commercial real estate layer, the key acquisition timeline, and what that total portfolio looks like today.

Key Takeaways

• According to the Land Report, Kroenke holds approximately 2.7 million acres of ranchland across the U.S. and Canada, placing him at No. 1 on the 2026 Land Report 100.
• The December 2025 New Mexico acquisition, more than 937,000 deeded acres, was the single-largest U.S. land transaction in over a decade and moved him from No. 4 to No. 1 on the Land Report rankings.
• His commercial real estate arm spans an estimated 60 million square feet of retail and venue properties, primarily near Walmart stores.
• Bloomberg reports that Kroenke holds commercial real estate through the Kroenke Group and THF Realty, with more than 300 properties across both entities.
• The ranchlands are primarily used for cattle operations, wildlife management, and conservation, not residential development.
• The December 2025 New Mexico acquisition was an off-market private transaction, and terms were not disclosed.
• The portfolio reflects a view of land as a long-duration, multi-purpose asset rather than a near-term income play.

Who Is Stan Kroenke?

His sports holdings, the Rams, the Nuggets, the Colorado Avalanche, the Colorado Rapids, and Arsenal FC, receive the most press attention.

The land portfolio, assembled quietly over three decades through private ranch acquisitions, now exceeds all of those franchises in sheer acreage and likely in total asset value when commercial real estate is included.

Stan Kroenke’s Land Ownership: Total Acreage and National Ranking

The timeline of Kroenke’s land accumulation makes the scale clearer than any single headline number.

Key milestones in the land portfolio:

• 2012: Kroenke purchased the 124,000-acre Broken O Ranch in Montana for $132.5 million, which included 4,500 cows. That purchase moved him from the 10th to the 8th largest landowner in America at the time.
• 2016: He acquired the historic W.T. Waggoner Ranch in Texas. Per Wikipedia, the ranch was listed for $725 million in August 2014, though the final sale price was not publicly disclosed. After that deal, press reports indicated his farmland holdings reached about 1.37 million acres.
• Pre-2025: Kroenke’s Wyoming ranch grew to more than 550,000 acres through additional acquisitions.
• December 2025: He completed more than 937,000 deeded acres in New Mexico, the single-largest U.S. land transaction in over a decade. Per Fox Business, that acquisition catapulted him from No. 4 to No. 1 on the 2025 Land Report 100, surpassing other large landowners including Ted Turner and John Malone.

According to Farms.com reporting, the New Mexico deal elevated Kroenke to America’s largest private landowner with holdings totaling approximately 2.7 million acres across the U.S. and Canada. Forbes also lists him as a major landowner with some 2.7 million acres of ranches across the U.S. and Canada.

Key Properties in Stan Kroenke’s Real Estate Portfolio

The Waggoner Ranch: Texas

The Waggoner Ranch is the largest single ranch under one fence in Texas and one of the most documented properties in Kroenke’s portfolio. Per Wikipedia, at the time of sale the ranch comprised 520,527 deeded acres spanning six Texas counties. The Land Report lists the current figure at approximately 560,000 acres, reflecting subsequent additions. The ranch was founded in 1852, listed for $725 million in August 2014, and sold to Kroenke in February 2016 per the Wikipedia entry on the property, though the final sale price was not publicly disclosed.

One of the ranch’s lakes provides water to the City of Wichita Falls. After the acquisition, Kroenke’s legal team sent letters to long-term residents of the ranch informing them of eviction effective February 1, 2017.

The Broken O Ranch: Montana

Kroenke purchased the 124,000-acre Broken O Ranch near Augusta, Montana, in 2012. Per Forbes, the purchase price was $132.5 million and included 4,500 cows. The Broken O is the largest irrigated farm in the state of Montana, producing 700,000 bushels of small-grain crops and 25,000 tons of alfalfa hay annually.

The Winecup Gamble Ranch: Nevada

Kroenke owns the Winecup Gamble Ranch in Nevada, described by the Nevada Independent as a 1.2 million-acre property. He has proposed a potential land trade with the federal government involving this holding. Fox Business reports Kroenke’s total Nevada holdings at 800,000 acres, the figure likely reflects deeded acres only, distinct from the ranch’s total footprint. The discrepancy between sources is unresolved; both figures are reported estimates.

Wyoming Holdings

Kroenke’s Wyoming operations are among the most active in terms of ongoing expansion. Farm Progress reported that his Wyoming ranch grew to more than 550,000 acres through sequential additions. Fox Business lists 560,000 acres in Wyoming as part of the current total portfolio breakdown.

Douglas Lake Ranch: British Columbia

The portfolio extends into Canada through Douglas Lake Ranch in British Columbia, which Fox Business cites as part of the current portfolio spanning the American West and Canada. The Texas and Stockmen’s Cattle Raisers Association described Kroenke, at the time of the Waggoner purchase, as already the owner of 11 ranches in Montana, Wyoming, Arizona, and British Columbia.

How the Acreage Figures Reconcile Over Time

Multiple sources cite different acreage totals for Kroenke’s portfolio, and they are not contradictory, they reflect different points in time.

• Prior to the 2012 Broken O purchase, his holdings stood at roughly 740,000 acres (per Forbes at the time of that transaction).
• After the 2016 Waggoner Ranch deal, press reports placed total farmland holdings at about 1.37 million acres.
• By the time Credaliy covered a mid-period milestone, holdings had surpassed 2.44 million acres, reflecting Wyoming and other additions.
• After the December 2025 New Mexico acquisition, the Land Report, Forbes, and multiple news outlets all cite approximately 2.7 million acres as the current total.

The Land Report’s 2026 listing, which is the most current published figure, places the total at 2,700,000 acres across Texas, Wyoming, and Nevada for the ranked entries, with Canadian holdings additional.

What Kroenke Does With the Land

Kroenke’s landholdings are primarily ranchland. Per American Bazaar’s 2026 reporting, the properties are used for cattle operations, wildlife management, and conservation purposes. The Land Report notes that ranchlands are also used for hunting and renewable energy development.

Analysts who have studied the portfolio note that Kroenke has approached land as a store of value, a hedge against inflation. The framework treats the land as a long-duration holding with optional future uses ranging from agriculture to energy, rather than a property to be developed and flipped.

Kroenke’s Commercial and Sports Real Estate Assets

The ranchland is the largest component by acreage, but the commercial real estate portfolio is the other major pillar of Kroenke’s overall real estate holdings.

Commercial real estate structure:

• Kroenke Group: Holds commercial real estate properties including shopping centers and retail plazas. Per Bloomberg, the Kroenke Group and THF Realty together own more than 300 properties.
• THF Realty: A suburban development company Kroenke founded in 1991, specializing in retail plazas typically co-located near Walmart stores. Per Wikipedia, THF’s portfolio was valued at more than $2 billion in 2016.
• Total commercial footprint: Forbes reports Kroenke owns some 60 million square feet of real estate, much of it shopping plazas near Walmart locations.
• Sports venues: Per the New York Post’s 2026 reporting, Kroenke’s commercial holdings include an estimated 60 million square feet total, with sports venues in California and Denver included in that figure.
• Topanga Village: In 2023, Kroenke’s company acquired nearly 100 acres in Woodland Hills, California, which includes the Topanga Village shopping center.

The commercial real estate strategy is materially different from the ranch portfolio. The THF Realty model is retail-anchored suburban development, generating income from tenants and foot traffic tied to Walmart proximity. The Kroenke Group’s venue holdings are tied directly to his sports franchises. These are active income-generating assets, whereas the ranch properties function more as long-hold land assets with agricultural and conservation uses.

How Kroenke’s Portfolio Compares to Other Large Landowners

The Land Report ranks private landowners annually. For context on Kroenke’s position:

• Before the December 2025 New Mexico deal, Kroenke sat at No. 4 on the list. Fox Business notes the acquisition surpassed holdings of Ted Turner and John Malone to claim the top spot.
• The Land Report’s 2026 ranking confirms his position at No. 1 with 2,700,000 total acres.
• Credaliy reported that after an earlier acquisition milestone, his holdings had already surpassed 2.44 million acres, overtaking several other major private landowners.

No other individual private landowner in the United States currently holds a comparable total, based on the 2026 Land Report rankings.

How Ark7 Connects to This Conversation

Kroenke’s portfolio is a study in what concentrated land and property ownership looks like at an institutional scale. For most individual investors, that model is not replicable. The capital requirements, the management complexity, and the transaction structure are all out of reach. Ark7 was built around a different premise: that real estate ownership should not require millions of dollars or property management expertise.

Ark7 is an online real estate investment platform that lets investors buy shares in curated rental homes at accessible price points. As of May 2026, the platform has served over 300K+ active investors, funded $30MM+ in property value, and paid out $4MM+ in cash dividends.

Investors receive monthly distributions as passive income. Ark7 uses a hybrid approach of artificial intelligence and local real estate expertise to source, lease, and manage properties, so investors participate in rental income and potential appreciation without handling operations directly.

As one representative example of the platform’s investors, a former tech professional and real estate investor holds shares in multiple properties across several states through Ark7. Her own words capture the model: “I use it to diversify my current real estate portfolio without adding more to the workload.” That is the accessible version of what large-scale portfolio owners like Kroenke accomplish through institutional structures, property exposure across multiple markets, managed by professionals, without the investor carrying day-to-day responsibility.

Investing in securities involves risks, including possible loss of principal. Past performance is not a guarantee of future results. Offerings on Ark7 are SEC Regulation A+ qualified; neither Ark7 nor Dalmore Group LLC (registered broker-dealer, FINRA/SIPC) provides investment advice.

Browse Properties on Ark7

Frequently Asked Questions

How much land does Stan Kroenke own?

According to the Land Report and multiple press sources, Kroenke owns approximately 2.7 million acres of ranchland across the United States and Canada as of 2026, making him the largest private landowner in the country.

Is Stan Kroenke the largest landowner in America?

Yes, based on current published rankings. The 2026 Land Report 100 places Kroenke at No. 1 with 2,700,000 total acres, following the December 2025 acquisition of more than 937,000 deeded acres of ranchland in New Mexico. That transaction was the largest single U.S. land deal in over a decade.

Who were the largest private landowners in the US before Kroenke?

Before the December 2025 New Mexico acquisition, Kroenke ranked No. 4 on the Land Report 100. Fox Business notes the deal surpassed the holdings of Ted Turner and John Malone, moving him to No. 1. The Land Report publishes annual rankings of the top 100 private landowners in the United States.

What properties does Stan Kroenke own?

Kroenke’s documented holdings include the Waggoner Ranch in Texas (approximately 520,527 to 560,000 acres), the Broken O Ranch in Montana (124,000 acres), a Wyoming ranch that has grown to more than 550,000 acres, the Winecup Gamble Ranch in Nevada, the Douglas Lake Ranch in British Columbia, and a large ranchland block in New Mexico acquired in December 2025. On the commercial side, his Kroenke Group and THF Realty entities collectively hold more than 300 properties. Together they total an estimated 60 million square feet of real estate, including retail plazas and sports venues.

Does Stan Kroenke own ranches or shopping centers?

Both. His ranchland portfolio, totaling approximately 2.7 million acres, is used primarily for cattle operations, wildlife management, conservation, and hunting. His commercial real estate portfolio, held through the Kroenke Group and THF Realty, includes more than 300 retail and commercial properties. Many are shopping plazas developed near Walmart locations, plus sports venues tied to his franchise ownership.

What did Stan Kroenke pay for the Waggoner Ranch?

Per Wikipedia, the W.T. Waggoner Ranch was listed for $725 million in August 2014 and sold to Kroenke in February 2016; the final sale price was not publicly disclosed. It spans approximately 520,527 to 560,000 acres across six Texas counties and is the largest single ranch under one fence in Texas. The property includes cattle operations, roughly 30,000 acres of arable land, and approximately 1,100 producing oil wells.

How did Stan Kroenke buy so much land?

Kroenke built his initial wealth through commercial real estate development in partnership with Walmart in the 1970s and 1980s, then reinvested heavily into ranchland starting in the 1990s. Most of the major ranch acquisitions were private, off-market transactions. The December 2025 New Mexico deal, for example, was brokered through Hall and Hall, and no transaction price was made public by either party.

What is THF Realty?

THF Realty is a suburban real estate development company Stan Kroenke founded in St. Louis, Missouri, in 1991. It specializes in retail plazas typically co-located near Walmart stores. It operates alongside the Kroenke Group, and together the two entities hold more than 300 commercial properties.

Where is Stan Kroenke’s land located?

The primary documented holdings span Texas (Waggoner Ranch), Wyoming (more than 550,000 acres), Nevada (Winecup Gamble Ranch area), Montana (Broken O Ranch and other parcels), New Mexico (the 2025 acquisition of more than 937,000 acres), Arizona (per earlier reporting), and British Columbia, Canada (Douglas Lake Ranch). The Land Report’s 2026 ranking lists the primary states as Texas, Wyoming, and Nevada.

How did Stan Kroenke make his money in real estate?

Kroenke built his initial wealth through commercial real estate development by co-locating retail plazas near Walmart stores in the 1970s and 1980s. He founded THF Realty in 1991 to continue that suburban retail model. Returns from those commercial holdings funded decades of private ranchland acquisitions, culminating in the December 2025 New Mexico deal that made him America’s largest private landowner.

Real estate investing involves risk, including potential loss of principal. Past performance does not guarantee future results. This article is for informational and educational purposes only and does not constitute investment, legal, or financial advice.